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The worlds largest Copper producer (FCX) could be forming a Head & Shoulders topping pattern and a descending triangle inside of the right shoulder.
Doc copper and FCX often give leading global growth and contraction signals. Traders appear to be creating a pattern that would reflect global softness ahead. If traders can break this support, FCX could slip and fall in a hard way!
The “Neckline creates a natural support shelf!” Keep a very close eye on FCX and this pattern….the direction of FCX’s next big move could say a ton about the economy and how portfolios should be constructed!
